Avis 2006 Annual Report Download - page 61

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Table of Contents
Avis Budget Group, Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except share data)
See Notes to Consolidated Financial Statements.
F
-
4
December 31,
2006
2005
Assets
Current assets:
Cash and cash equivalents
$
172
$
546
Receivables (net of allowance for doubtful accounts of $20 and $20)
363
348
Deferred income taxes
7
375
Other current assets
1,264
234
Assets of discontinued operations
-
20,512
Total current assets
1,806
22,015
Property and equipment, net
486
516
Deferred income taxes
226
260
Goodwill
2,193
2,188
Other intangibles, net
739
731
Other non
-
current assets
121
283
Total assets exclusive of assets under vehicle programs
5,571
25,993
Assets under vehicle programs:
Program cash
14
15
Vehicles, net
7,049
7,509
Receivables from vehicle manufacturers and other
276
602
Investment in Avis Budget Rental Car Funding (AESOP) LLC
–
related party
361
374
7,700
8,500
Total assets
$
13,271
$
34,493
Liabilities and stockholders
’
equity
Current liabilities:
Accounts payable and other current liabilities
$
1,855
$
2,287
Current portion of long
-
term debt
29
975
Liabilities of discontinued operations
-
7,263
Total current liabilities
1,884
10,525
Long
-
term debt
1,813
2,533
Other non
-
current liabilities
452
831
Total liabilities exclusive of liabilities under vehicle programs
4,149
13,889
Liabilities under vehicle programs:
Debt
759
952
Debt due to Avis Budget Rental Car Funding (AESOP) LLC
—
related party
4,511
6,957
Deferred income taxes
1,206
1,139
Other
203
214
6,679
9,262
Commitments and contingencies (Note 16)
Stockholders
’
equity:
Preferred stock, $.01 par value
—
authorized 1 million shares; none issued and outstanding
-
-
Common stock, $.01 par value—authorized 250 million shares; issued 135,498,121 and 135,085,222
shares
1
1
Additional paid
-
in capital
9,664
12,022
Retained earnings
(586
)
5,997
Accumulated other comprehensive income
68
40
Treasury stock, at cost
—
34,306,694 and 33,924,621 shares
(6,704
)
(6,718
)
Total stockholders
’
equity
2,443
11,342
Total liabilities and stockholders
’
equity
$
13,271
$
34,493